The global over-the-air (OTA) update market accounted for US$ 2,685.6 Mn in 2018 and is expected to grow at a CAGR of 16.3% over the forecast period 2019-2027, to account for US$ 10,346.5 Mn by 2027.

Currently, the over-the-air (OTA) update market is gaining high momentum across the globe. The automotive industry is revolutionizing the inclusion of various technologies. The industry is progressing steadily with the commercialization of connected cars/vehicles. The demand for these vehicles is accentuating heavily, and it is expected that the demand would rise up to a higher level in the coming years. The connected cars segment is becoming mainstream as the OEMs are heavily emphasizing on the same. Several OEMs have already started utilizing the benefits of the internet to maintain the vehicle's condition, the demand for internet-based vehicular technology continues to grow in the developed countries as well as few developing countries.

Globally, over-the-air (OTA) update market is experiencing an intense growth with regards to continuous investments in the connected cars technologies by the companies. The number of connected cars is anticipated to rise at a growth rate of 30% until the next decade. This factor is expected to catalyze the over-the-air (OTA) update market, however, the growth of the over-the-air (OTA) update market is foreseen to be a bit sluggish in comparison to the growth rate of connected cars. This majorly pertains to the ongoing development of several technologies in the field of over-the-air (OTA) update. Apart from the developed countries where the connected cars segment has been flourishing exponentially over the years, the demand for the same is maturing steadily in several developing countries including, India, Japan, South Korea, and Australia, among others.

The overall over-the-air (OTA) update market size has been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the over-the-air (OTA) update market. It also provides the overview and forecast for the global over-the-air (OTA) update market based on all the segmentation provided concerning five primary reasons such as North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the over-the-air (OTA) update market.